Shamrock Leasing Company signs a lease agreement on January 1,2025 , to lease electronic equipment to Pharoah Company. The term of the non-cancelable lease is 2 years, and payments are required at the end of each year. The following information relates to this agreement: 1. Pharoah has the option to purchase the equipment for $17.500 upon termination of the lease. It is not reasonably certain that Pharoah will exercise this option. 2. The equipment has a cost of $150.000 and fair value of $199,0,9 to Shamrock Leasing. The useful economic life is 2 years, with a residual value of $17,500. 3. Shamrock teasing desires to earm a return of 6% on its investment. 4. Collectibility of the payments by Shamrock Leasing is probable. Prepare the journal entries on the books of Stamrock Leasing to record the payments received under the lease and to recognize income for the years 2025 and 2026. (List all debit entries before credit entries. Credit account titles are outomatically indented when amount is entered. Do not indent monuall x. List all debit entries before credit entrles. If no entry is required, select "No Entry" for the occount tities and enter 0 for the amounts. For calculation purposes, use 5 decimal ploces as displayed in the foctor table provided and round final answers to O decimal places es. 5,275.)